Documents filed with the court on Monday showed that BAM Trading, the entity behind Binance.US, once again refused to provide the SEC with a request for documents related to its business operations.
Lawyers for BAM Trading said in the filing that the SEC’s document requirements were “too broad” and caused too much “inconvenience” to the exchange’s performance. “BAM objects to the SEC’s requests because they are vague, ambiguous, overbroad, lack specificity, or are oppressive,” BAM lawyers wrote in the filing.
The SEC previously requested BAM to provide a series of documents, including the company’s records of handling customer assets, proof of the company’s reserves, and a statement of its overall financial condition. One of the requests related to the exchange’s alleged use of a custody service called Ceffu to transfer U.S. customer funds. Regarding transfers abroad, the SEC said these requests were deliberately ignored by Binance.US.
